Keaton Energy: Thermal coal production hits a record

COAL mining company Keaton Energy has increased its annual thermal coal production to a record high of 2.3 million tons, 4 percent more than the previous financial year. Metallurgical coal increased by 29 percent to 126 107 tons and anthracite coal output improved by 30 percent to 395 450 tons during the year to March. The group owns the Vanggatfontein Colliery near Delmas in Mpumalanga and the Vaalkrantz Colliery in Vryheid in KwaZulu-Natal. Vanggatfontein produces thermal coal for Eskom and metallurgical coal for domestic industrial consumers while Vaalkrantz produces anthracite for domestic consumption and export to Brazil. During the last quarter of the financial year, stock discrepancies were discovered at Vaalkrantz Colliery. “A thorough investigation was undertaken by multiple agencies which culminated in criminal charges being laid against an employee,” Keaton Energy said. A new management team was put in place at Vaalkrantz during the quarter. During the year, Keaton Energy reported a fatality at Vaalkrantz. Shares added as much as 11.24 before closing 2.37 percent up at R1.73 yesterday. – Staff Reporter